MobiChord Inc. a global provider of telecom service management software and related services, today announced it has secured seed funding from ServiceNow Ventures. Financial terms were not disclosed.
Enterprises struggle to manage the explosion of mobile devices, their usage and telecom vendors. Wireless expenses are one of the fastest growing line items in operational IT budgets. Carriers have unique invoices that are complex and difficult to manage manually across multiple systems. This leads to wasted time, unaccountable users and payment for unused services and overages to carriers. The diversity of wireless providers, combined with a mix of BYOD and company-issued devices and IoT services, is creating headaches for IT teams, and the ability to track, wipe and control devices that contain confidential information is especially important to the security of a company.
MobiChord helps customers apply a structured, automated approach to managing telecom services, mobile devices, expenses, contracts and usage. MobiChord aggregates wireless carrier information and enterprise mobility data to create a single system of record. MobiChord allows organizations to request, order, and assign corporate owned devices or enroll employee devices in a BYOD program. Inventories are created with real time information from wireless carriers. This helps enterprises drive significant time and cost savings.
For example, a Fortune 100 company currently manages more than 160,000 mobile devices and collaborates with dozens of mobile providers using MobiChord on the ServiceNow platform. MobiChord provides complete mobile transparency. The customer has standardized its mobile processes such as device requests and plan changes across different carriers. Powerful analytics are now available to analysts and cost center managers.
'MobiChord is a great example of an independent software vendor building on our platform to bring our customers the powerful benefits of managing telecom assets and services,' said Dominic Phillips, vice president, ServiceNow Ventures. 'The investment will accelerate MobiChord's product development and augment the growth of global sales and operations. We are strategically investing in companies like MobiChord to help our customers automate every enterprise service and drive workplace productivity.'
ServiceNow Ventures targets innovative and disruptive technologies such as MobiChord that grow and extend the ServiceNow ecosystem. MobiChord's software is built natively on ServiceNow, and its applications are top sellers on the ServiceNow Store.
'ServiceNow's investment in MobiChord deepens the partnership between the two companies and helps us reach more ServiceNow customers,' said Herbert Uhl, CEO and co-founder of MobiChord. 'The powerful ServiceNow platform allows us to create an amazing user experience and returns that are simply unachievable with previous telecom expense management solutions.'
MobiChord offers a robust portfolio of innovative software and services to address every aspect of telecommunications including:
-Mobility Management
- Wired-Line Management
- Telecom Asset Management
- Internet of Things Management
- Software as a Service Management
About MobiChord
MobiChord's Telecom Service Management solution, powered by ServiceNow, brings the service revolution to telecommunications.
MobiChord believes manually managing telecommunications across multiple consoles should be a thing of the past. Organizations deeply benefit from an awesome user experience, automated processes, a single system of record and incredibly powerful analytics. Customers gain complete control and supportability of all telecom services including: mobility, wired-line, assets, IoT and SaaS. Built in self-service functions enable users to easily request and perform services. The end result of Telecom Service Management is a simplified system to manage telecommunications that increases velocity and predictability paired with significant time and cost savings.
MobiChord is headquartered in the silicone slopes of Salt Lake City, Utah and is trusted by organizations of all sizes and industries as well as governmental institutions. MobiChord services customers in North America, Asia Pacific and Europe. Additional information can be found at http://www.mobichord.com.